Wheat, corn and beans leaking from earlier highs. The action is not very encouraging for the bulls.
Either there is a lack of interest or just fatigue. Anytime the market gets bullish news and can’t hold a rally, that’s a sign of weakness.
I’d be careful getting too in love with any position here. I’d look at the ranges I broke down earlier for March Futures.
December may just be a good month to trade one lots and let it go.
I have to say I thought we’d be a lot higher today on the Egyptian Tender. We struggled overnight, and today, we’ve continued to have lousy trade. A 13 cent range in Wheat, and we are on our lows here at 12PM. Corn on an 11 cent range on its lows. Beans a 20 cent range, and only a nickle from its lows.
Head to the sidelines, or trade very small.
That’s my advice.
CER
